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NY A05651
Bill
Status
3/20/2023
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
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Amends the definition of "service contract" in Insurance Law section 7902(k) to clarify coverage for excess wear and tear on personally leased motor vehicles.
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Specifies that service contracts for leased vehicles may cover repair or replacement of tires, paint cracks or chips, interior stains/rips/scratches, exterior dents or scratches, windshield cracks or chips, and missing interior or exterior parts resulting in lease-end charges.
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Limits indemnity payments for these lease-end wear and tear claims to not exceed the purchase price of the vehicle.
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Takes effect immediately upon enactment.
Legislative Description
Clarifies certain provisions related to excess use or wear and tear of a vehicle leased for personal use for purposes of service contracts.
Last Action
enacting clause stricken
7/15/2024